Clearbridge Investments LLC Has $38.76 Million Holdings in FirstService Co. (NASDAQ:FSV)

Clearbridge Investments LLC decreased its position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 233,776 shares of the financial services provider’s stock after selling 2,625 shares during the quarter. Clearbridge Investments LLC owned about 0.52% of FirstService worth $38,760,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Summit Creek Advisors LLC bought a new position in FirstService during the first quarter worth $11,710,000. Acadian Asset Management LLC grew its holdings in FirstService by 39.3% during the 1st quarter. Acadian Asset Management LLC now owns 8,500 shares of the financial services provider’s stock worth $1,407,000 after acquiring an additional 2,400 shares during the period. Bristol Gate Capital Partners Inc. raised its position in shares of FirstService by 68.4% in the 1st quarter. Bristol Gate Capital Partners Inc. now owns 5,154 shares of the financial services provider’s stock worth $853,000 after acquiring an additional 2,093 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of FirstService by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 1,654,783 shares of the financial services provider’s stock valued at $274,363,000 after purchasing an additional 76,503 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in FirstService by 23.7% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 39,700 shares of the financial services provider’s stock worth $6,559,000 after purchasing an additional 7,600 shares during the period. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Stock Up 0.2 %

FirstService stock traded up $0.30 during mid-day trading on Tuesday, reaching $166.32. The stock had a trading volume of 41,827 shares, compared to its average volume of 85,286. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.00 and a current ratio of 2.00. FirstService Co. has a fifty-two week low of $134.77 and a fifty-two week high of $171.94. The stock’s 50-day simple moving average is $152.59 and its 200-day simple moving average is $158.07. The firm has a market capitalization of $7.48 billion, a PE ratio of 82.34 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). FirstService had a net margin of 2.02% and a return on equity of 16.42%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. On average, sell-side analysts forecast that FirstService Co. will post 4.31 EPS for the current fiscal year.

FirstService Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 28th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.60%. FirstService’s dividend payout ratio is presently 49.51%.

Analyst Ratings Changes

Several brokerages have issued reports on FSV. BMO Capital Markets boosted their price target on FirstService from $193.00 to $196.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Scotiabank increased their target price on shares of FirstService from $170.00 to $175.00 and gave the stock a “sector perform” rating in a research note on Friday, July 12th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $187.60.

FirstService Profile

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.